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PNC's $4.1B acquisition of FirstBank greenlit by Fed
PNC’s acquisition will triple its Colorado footprint and expand Arizona presence, raising assets to $590 billion with planned branch consolidations, the Federal Reserve said.
- The Federal Reserve approved The PNC Financial Services Group, Inc.'s $4.1 billion acquisition of Colorado-based FirstBank on Thursday, 94 days after PNC announced the deal.
- Seeking coast-to-coast scale, The PNC Financial Services Group, Inc. pursues acquisitions to double in size, raising its new-branch target to 300 by 2030.
- PNC expects the transaction to close around Jan. 5, 2026, with full customer conversion in mid-2026, while closing 14 branches and consolidating four, adding FirstBank’s $26.6 billion in assets.
- Public commenters filed 14 supportive remarks versus two opposing, while the Federal Reserve System and other regulators approved the deal, PNC CEO William S. Demchak said.
- Compared with prior years, regulatory approval timelines have accelerated, with several multibillion-dollar bank deals now approved within nine months, down from over 16 months previously, as the PNC-FirstBank deal proceeds.
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The Union Democrat+12 Reposted by 12 other sources
PNC Receives Regulatory Approvals for Acquisition of FirstBank
PITTSBURGH and LAKEWOOD, Colo., Dec. 12, 2025 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) today announced that it has received the regulatory approvals required to complete its previously announced acquisition of FirstBank Holding Company, including its banking…
Coverage Details
Total News Sources15
Leaning Left1Leaning Right0Center7Last UpdatedBias Distribution87% Center
Bias Distribution
- 87% of the sources are Center
87% Center
13%
C 87%
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